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20121129
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and they are ready to tackle the fiscal cliff crisis. lawmakers are ready tro compromise. >> lawmakers are ready to give in on tax changes in order to get some sort of a deal done. kelly wright joins us with more on what it means for the negotiation. we could be looking at possible tax hikes, isn't that right? >>> oo the government is on automatic pilot. that is five weeks away. for congress there is much work to be done and more compromise to be made in order to avoid the fiscal cliff. it will require give and take negotiations particularly on raising taxes but republican law americas who pledged to not vote for anything with a tax increase now appear ready to relinquish that pledge in order to avoid the looming fiscal crisis. >> when you are $16 trillion in debt the only pledge we should be making to each other is to avoid the grief and republicans should put revenue on the table. >> so everything is on the table and campaign raising taxes on the wealthy is relying on treasury secretary tim geithner. his team will works on issues like medicare even social security. they hoping to avoid a repea
at the meeting later this morning. senator mccain is also talking about know big topic the fiscal cliff. he says the current tax cuts could be extended for another six months. >> meeting this week is interesting. to be a sense of urgency as the market indicates. i think it depends on both sides and what they view is the lesson of the election. republicans maintain their majority in the house. the preside there's a possibili could kick the can down the road for 6 months or so by putting everything on hold. if you are really going to solve this problem if you are really going to address it you have to go after entitlements. everybody knows that's the third rail. that part has to be bipartisan the way it was with tip o'neil and ronald reagan. >> the fiscal cliff making investors nervous but not consumers. that's one of the stories you can bank on this morning. if you looked at cyber monday all of the deals you are not alone. early numbers show that sales were on track to break records. lauren simonetti joins us to look at these numbers. >> i went shopping yesterday, did you? >> i did, actually. >>
youk on. they have a little time before fiscal cliff. lack of progress. >> we are a little over four weeks away from the fiscal cliff and still no progress. there is a massive tax hike in spending cuts, it only intensifies on comments by harry read essentially confirming the budget talks still remain worlds apart. the dow down nearly 90 points. >> this will be a big topic in the future. college loan debt. that could be the next housing bubble. >> the federal lending making college education to any one is really only creating a pile of debt so large that since 2007 it has risen 56 percent while other forms of debt like auto debt mortgage debt that declined. u.s. student debt rose $950 billion according to the federal bank of new york. now 11 percent of those balances are at least 90-days late. that is higher than credit card late payments for the first time in history. >> if the student continue to default that is the u.s. taxpayers picking up the tabs. >> most of the student debt is in the grace period so the number is probably even higher. >> we will keep following that one. christm
-called fiscal cliff. state hoyce are joining law makers pushing for 18.4 percent tax hike. the tax last raised in 1993. hundreds of our nation's heros getting a warm welcome home in new jersey. vol tierce greeted the soldiers and served them a traditional turkey dinner with all of the trimmings. >> motorcycle is coming and all . people that greeted us was a wonderful experience. nbest thing i had seen in years. >> and this speed and truth event is held every year. >> that is your five on five. nthis morning, israel arrested the person behind wednesday's bomb blast on a bus in tel-aviv while the cease fire between israel and hamas is holding up. peter doocy has more in washington. >> good morning, patty. twen people - 27 people were injured when the bus exploded and an an arab-israeli is in custody for planting the bomb. pam pal militants with ties to hamas and other islamic jihadist in tel-aviv to plant the bomb and call would the handlers it was in place and they dialed a mobile phone that triggered the blast. the man admitted to carrying out the terrorist attack and now we'll wait and see if
Search Results 0 to 3 of about 4